Higher Food Prices Push Nigeria’s Inflation To 22.22%

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The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.22 percent in April 2023, up from 22.04 percent in the previous month.

The inflation rate data is contained in the latest CPI report released on Monday by the National Bureau of Statistics (NBS).

Higher Food Prices Push Nigeria’s Inflation To 22.22%

The April increase comes across as the fourth consecutive surge in the country’s inflation figure since the year began.